Gas may hit $5 by Fourth of July

[larrymeyer]

$4.12 a gal up here as of yesterday for Regular

http://www.thetimes-tribune.com/site...d=415898&rfi=6

Gas may hit $5 by Fourth of July
BY NICHOLAS SOHR
STAFF WRITER
06/10/2008


Average Pennsylvania gasoline pump prices — already above $4 a gallon — could hit $5 a gallon by July 4.


On Monday, Pennsylvania joined the growing pool of states reporting average unleaded gas prices higher than $4 per gallon. The national average tipped the scales at $4.02 per gallon after edging over $4 this weekend, and prices in the Scranton/Wilkes-Barre/Hazleton area reached $3.98, according to AAA and the Oil Price Information Service. Several stations throughout Northeastern Pennsylvania were well past $4 a gallon Monday, including the Sunoco in Lords Valley, Pike County, which was $4.25; the Sunoco at Davis Street and Stafford Avenue which was $4.09; and the Exxon on Montage Mountain Road, which was $4.07.

“We can expect at least through the Fourth of July that prices will go up,” said Catherine Rossi, of AAA Mid-Atlantic. “Crude oil prices generally take four to six weeks to be reflected at the pump. So where crude oil prices are now, we know they’re going to go up, incrementally, but they’re going up.”

So far, 19 states and the District of Columbia have topped $4 per gallon, and, thanks to the usual suspects in this year’s record-breaking rise in energy prices, the climb is expected to continue.

A weak dollar, fears of Mideast turmoil interrupting supply and increased demand from developing countries — China and India chief among them — drive up prices

[spyro825]

its 4.09 in philly for regular and 4.39 for premium

[thirtyonebravo]

it's already 5 bucks, well has been for a few weeks now for us diesel folks.

[bloomautomatic]

It's been holding at $3.99 around here (washington county) for the past week or two. With Independence Day less than 3 weeks away, it'd have to go up about 33 cents a week to hit $5 by then.

Won't surprise me to see it go up again, but $5 by Independence Day doesn't seem likely to me.

Vince

[Damage control]

Here is what gets me. Fuel stations get fuel about once a month depending on how busy they are it could be sooner. Their tanks get filled up, the owner billed for said fuel. WHY THEN WHY DOES THE PRICES GO UP ON A DAILY BASIS! I just can't wrap my head around that one for the life of me.


DC

[IV_Warrior]

Most places with any real volume of customers get fuel a lot more often than that. My local Sheetz told me their tanks are filled daily. The little guy who only gets fuel once a week, has to lower his price when the big boys do, or everyone will go there. So sometimes he's selling fuel for less than he paid for it. To make up for it, he raises his prices when they do, and is sometimes making a dime or more a gallon. One station owner who's in that situation told me that overall, he breaks even on fuel, and just has it still to keep people coming in for other things.....

[Pyrotek85]

Here is what gets me. Fuel stations get fuel about once a month depending on how busy they are it could be sooner. Their tanks get filled up, the owner billed for said fuel. WHY THEN WHY DOES THE PRICES GO UP ON A DAILY BASIS! I just can't wrap my head around that one for the life of me.


DC

It was the same during Katrina. They jacked up the price of gas that was already in their holding tanks, gas they bought before the price increase. They're just screwing with everyone.

Edit: I should clarify, its generally the oil companies that screw around. Station owners have to follow along with the pricing or they'll be cut off from the supply as well, and they don't make much if anything in profit.

[Pukindog]

I have a very good buddy who owns several gas stations on US 1 outside of Phila. near the PA Turnpike.
He says the oil companies have already told him it will be AT LEAST $6.00 by Labor Day.

Pucker up,

Jeff

[Damage control]

I have a very good buddy who owns several gas stations on US 1 outside of Phila. near the PA Turnpike.
He says the oil companies have already told him it will be AT LEAST $6.00 by Labor Day.

Pucker up,

Jeff

Well they're goal of shutting down the country is working.


DC

[Lucky111]

Here is what gets me. Fuel stations get fuel about once a month depending on how busy they are it could be sooner. Their tanks get filled up, the owner billed for said fuel. WHY THEN WHY DOES THE PRICES GO UP ON A DAILY BASIS! I just can't wrap my head around that one for the life of me.


DC

You don't price fuel on what you paid for whats in the ground, you base your price on what it will cost to replace whats in the inground tank. If you paid $4. and sold it f0r $4.24 and the next tank cost $4.30, your .06 in the hole.